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Admin Fees

 
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Old 08-14-2011, 03:31 PM   #1
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Admin Fees


I have been doing business with another contractor on an "informal" type basis, all legit, just handshake. I have been helping do some of the Fannie Mae rehabs of foreclosed homes that he does. Essentially he bids them then passes the work off to me. The agreement was that he provides materials which are deducted from the final invoice of mine. And he gets 10% of the net. I am perfectly good with this arrangement. The last job I did ( have not received pay yet) he wants to "talk" about his admin/ comp fee. Is 10% fair?
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Old 08-14-2011, 10:27 PM   #2
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Re: Admin Fees


anyone? PM me if you don't want to go public....

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Last edited by Lenkerr; 08-14-2011 at 10:57 PM.
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Old 08-15-2011, 10:37 AM   #3
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Re: Admin Fees


a 10% finders fee is certainly fair. Especially if he is the one providing the estimate, and knows the material costs that will be taken out of it. If anything, make sure the bid is fair to you.; remember, he's get 10% of the gross-materials. If it takes you twice the manhours to do the work because of problems, you still get the same money. Of course, iff it's workign and you guys have built a good relationship, this shouldn't be much of an issue.
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